New ALBA Pact
Latin Americans cement left alliance
HAVANA (Reuters) - Leftist leaders of Cuba, Venezuela and Bolivia on Saturday signed a comprehensive integration agreement and trade accord cast as an alternative to U.S. plans for a free-trade pact with the Latin American region.
Bolivian President Evo Morales signed on to a year-old political, social and economic integration agreement between Cuba and Venezuela dubbed the Bolivarian Alternative for the Americas, or ALBA, after South American independence hero Simon Bolivar.
The accord gives Cuba preferential financing for Venezuelan oil and payment for services of more than 30,000 Cuban doctors and other professionals working in Venezuela. It has helped Cuba emerge from the economic crisis that followed the demise of the Soviet Union, its former benefactor.
Morales, along with Cuban President Fidel Castro and Venezuelan President Hugo Chavez, signed a second agreement under which Cuba and Venezuela will eliminate all tariffs on Bolivian products.
Venezuela agreed to provide "all the energy resources Bolivia needs" as the second poorest country in the hemisphere nationalizes its natural gas reserves, and to help it develop a petrochemical industry.
HAVANA (Reuters) - Leftist leaders of Cuba, Venezuela and Bolivia on Saturday signed a comprehensive integration agreement and trade accord cast as an alternative to U.S. plans for a free-trade pact with the Latin American region.
Bolivian President Evo Morales signed on to a year-old political, social and economic integration agreement between Cuba and Venezuela dubbed the Bolivarian Alternative for the Americas, or ALBA, after South American independence hero Simon Bolivar.
The accord gives Cuba preferential financing for Venezuelan oil and payment for services of more than 30,000 Cuban doctors and other professionals working in Venezuela. It has helped Cuba emerge from the economic crisis that followed the demise of the Soviet Union, its former benefactor.
Morales, along with Cuban President Fidel Castro and Venezuelan President Hugo Chavez, signed a second agreement under which Cuba and Venezuela will eliminate all tariffs on Bolivian products.
Venezuela agreed to provide "all the energy resources Bolivia needs" as the second poorest country in the hemisphere nationalizes its natural gas reserves, and to help it develop a petrochemical industry.
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